Den Networks To Raise Rs 7.5 Bn
Den Networks Limited plans to raise funds by diluting 10-15% stake to build a fund corpus that would allow it to expand aggressively in a digital environment.
The company has passed a resolution to raise fresh capital up to Rs 7.5 Bn, via a mix of quasi equity/debt instrument, as it expects digitisation to drive consolidation in the cable TV sector.
Transaction Reference: DigitalEdge
Den Networks is one of the largest national cable television companies in India engaged in the distribution of analog and digital cable television services.
Since incorporation in July 2007, it has expanded analog cable services to 77 cities across India.
In December 2009, Fidelity had acquired 3% stake in the company from the secondary market. The company raised Rs 400 Cr through an IPO in the last week of November.
It also raised about Rs 150 Cr through pre-ipo placement in two tranches.
Japanese Soft Bank and Hong Kong based - India Capital bought 2%stake for Rs 50 Cr in Sept'09, while EMSAF Mauritius invested Rs 100 Cr for a 3.92% stake in the cable television company in Oct'09.
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KVEZAR VIEW
| Date | Transaction | Type | Buyer | Size ($mn) |
|---|---|---|---|---|
| 12/08/10 | Den Networks - Looking To Raise Funds | Private Equity | Looking For | - |
| 13/12/09 | Fidelity - Den Networks | Private Equity | Fidelity International Limited | - |
| 30/10/09 | Den Networks - IPO | IPO / Offerings | 77.61 |
| Date | Type | Buyer | Target | Size ($mn) | State |
|---|---|---|---|---|---|
| 02/02/12 | M&A | The Walt Disney Company | UTV Software Communications Limited | - | Announced |
| 24/01/12 | M&A | Legrand India Private Limited | Unknown | - | Planned |
| 19/01/12 | IPO / Offerings | Ram Kaashyap Investment Limited | 75.00 | Completed | |
| 17/01/12 | M&A | Marico Limited | Unknown | - | Planned |
Company |
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| Name | Promoters | Office | Competitor | Website |
|---|---|---|---|---|
| Den Networks Limited | Sameer Manchandana & Family Lucid Systems Private Limited Verve Engineering Private Limited |
236, Okhla Industrial Estate Phase III, New Delhi 110 020 India |
Wire & Wireless India Limited Hathway Cable and Datacom Limited Sun TV Limited Tata Sky Limited Digicable Network India Private Limited You Broadband & Cable India Limited |
www.digitelly.com |
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